On Monday April 11, 2022, the United States Court of Appeals for the Second Circuit heard in-person oral arguments in Miller v. Brightstar Asia Ltd., a case concerning the distinction between direct and derivative claims under Delaware corporate law. Bulso PLC member Paul Krog argued on behalf of the appellant, Tyler Miller. Mr. Miller is seeking to have the Second Circuit reinstate his claims that the defendant abused its role as controlling shareholder of a jointly owned company, destroying the value of stock options he possessed under the parties’ shareholders’ agreement. Those claims had been dismissed by the Southern District of New York on the basis that they were solely derivative in nature.
The panel was comprised of Judge Steven J. Menashi and Senior Judges Amalya L. Kearse and Robert D. Sack. You can listen to the argument here: